Posted To: MND NewsWire
The block purchases of single-family houses by institutional investors, which began during the housing and foreclosure crisis, was first credited with putting a floor under the housing market in 2010 through 2012. Since then, it has been blamed for keeping large numbers of homes off the market, leading to shortages and higher home prices. Some owners have been criticized as well for landlord abuses. The Urban Institute has now published research on another aspect of institutional ownership of rental properties. UI says these findings should be considered a possible model rather than something to disparage. UI analysts Laurie Goodman and Edward Golding say that most of the homes purchased by Wall Street investors as rentals need repair to enhance rentability and the institutional buyers have…(read more)
